Duration of the bankruptcy
There are different rules for discharge of debts and for complete discharge from the client’s obligations under bankruptcy.
A client who applies for FAB is obliged to comply with their trustee for 48 months (or until they are discharged) after the date of sequestration, despite being discharged of their debts after 12 months. This applies to aquirenda over the 48-month period.
The client also has an obligation to inform the trustee of any changes to income, so the DCO can be varied during the 48-month period. It can be increased if the client misses any payments or where the client and trustee agree, for example, to a payment break.
Wilful non-payment of any monies due can lead to the 48-month period being extended accordingly.